Never seen before but it kinda makes sense.. if I was YT?
A bad actor could sign up, start a livestream and start spamming the link to gain thousands of viewers. But of course this also fairly limits the ability of a community to start a stream and garner following.
I think it's more likely that this is an abuse-prevention scheme rather than a censorship scheme. If so, "what's up" is that the Internet is full of assholes, and preventing assholes from wasting your money and ruining things for everyone else is very hard to do perfectly, especially when you provide a free service with anonymous sign-up.
One way to do so is to limit the privileges of accounts without much history.